Iran says Hormuz deal with Oman won’t fully reopen strait

Iran has stated that its agreement with Oman regarding the Strait of Hormuz will not lead to a full reopening of the strategic waterway. This development comes amid ongoing negotiations involving Iran, Oman, and the United States over maritime access during the 2026 U.S.-Iran conflict. The Strait of Hormuz is a critical chokepoint for global energy shipments, and Iran’s partial closure has been a significant pressure tactic in the broader conflict. The current agreement between Iran and Oman reportedly includes some route coordinates but leaves unresolved issues concerning security and fees, indicating that normal transit is not yet feasible. Key Takeaways Iran’s announcement suggests that the current deal with Oman is partial, consistent with continued restrictions on the Strait of Hormuz. Market pricing implies a significant decrease in the likelihood of a U.S.-Iran agreement fully restoring strait access by August 15. The August 15 sub-market has seen its odds of a YES resolution drop from 64% to 41.5% over the past 24 hours, reflecting recent developments. What to Watch Observers should monitor any new statements from key actors, including U.S. President Donald Trump and Iran’s...